EUR/AUD. Bearish Outlook

FX:EURAUD   Euro / Australian Dollar
Description: As shown above we have FX:EURAUD             . This pair is currently Bearish

Price became bearish And broke Major Support (1.59) in 2010. Price became bullish to retest new found resistance (1.59) but was unsucessful breaking this level.

Bearish Territory

200 Acting as Magnetic Resistance (1.59) Level
50 Price has recently pushed below this level.

Resistance Was tested in (2014,2015 and 2016) proving uncessful, with agressive bearish Rejection.

0.5 Retracement.
0.382 Recently Broken ( Bearish )

Formation of Lower Lows and Lower Highs. (4 Arrows as Shown on chart) Forming till Present

200 Acting as Magnetic Support (2015 - Present) See Chart , Recently Price Has Pushed past 200 support with strong Bearish Candle.
(10,20,50) Currently Above Price. ( Bearish )

Lower Trend Line (As seen on chart) Also Broken, Also signalling Bearish Movement

September 2016:
200 MA Acting as magnetic Resistance, Signalling Bearish

Duration: Long Term
Decision: I am deciding to Short this Pair. I believe the future of this pair being bearish for long time due to the common bearish signals.

Trade Setup:
Sell Stop: 1.4323
TP 1: 1.4078
TP 2: 1.3929
SL: 1.4522

Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post you analysis and Ideas Below

Remember to always trade your strategy
Trade closed: stop reached
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